Last updated on May 5th, 2022 at 11:35 am by Bill Tsouvalas
Last updated on May 5th, 2022 at 11:35 am by Bill Tsouvalas
Are you into civil aviation? Is your business in need of new aircraft? Perhaps you need new engines, avionics or fuselage replacements. Savvy is your go-to finance brokers for all things aircraft and civil aviation.
We finance all sorts of civil aircraft for private and business use. We finance single seat, twin-prop, light aircraft, helicopters, and fixed-wing aircraft all the way up to private and corporate jets. We finance new and used aircraft, subject to approvals. We also finance aircraft for specialised tasks, such as crop-dusters, cargo haulers and sky-writers. Talk to us about your options. We aren’t limited to just financing aircraft. Savvy also help with financing and purchase of new parts such as engines, engine conversions, avionics packages and repairs.
We also find and provide finance for ground equipment such as hangars, fuel trucks and aircraft tugs. Please contact us for more information so we can better cater to your exact situation.
Our aircraft finance packages are fair, competitive and flexible. Much like out car and heavy vehicle financing options, we offer hire purchases, chattel mortgages, leases and other non-conforming loans that suit your personal or business needs.
We have a team of financial professionals that work hard to find the best aircraft finance packages. We have access to many of Australia’s largest, most trusted and best aviation financiers. You’ll soon agree our expertise on aviation and aircraft finance is second-to-none.
Savvy is rated 4.9 for customer satisfaction by 58 customers.
Some people who stride into the broker or lender’s office with a new private pilot’s licence may stop short – their first brainwave is “why not pay for my new aircraft with my existing home equity or line of credit?” The thought is tempting – avoiding “higher” interest rates, extra paperwork and the hassle of finding a new lender. But if you opt for home equity release to finance a plane, you will likely end up paying more. Though a mortgage has a lower interest rate on paper, the loan term is significantly longer. That means you will pay more in interest over time than getting a competitive aircraft loan.
The obvious answer to “why bundle aviation insurance with your finance broker” is this: convenience. But there’s more to having one consultant answer calls about payments and claims. A broker has buying power; and they can leverage that buying power on your behalf when it is time to claim. Insurance companies make money when they can deny claims – and they do try it when they can get away with it! but it’s harder to deny a whole team of brokers with millions of dollars of premiums on the books. A broker can bargain on your behalf and be your advocate when you need to claim.
Aviation finance is a big leap for any business. It makes sense to claim as many deductions as possible to help cash flow. As a business, you can select from chattel mortgages, aircraft leasing and commercial hire purchases. All these options means you can claim GST, interest paid and depreciation back on your next BAS statement. For chattel mortgage and hire purchases, you can apply for 100% finance (or more), longer or shorter loan terms and opt for balloon payments. These products also allow you to amortise other expenses such as services and insurance in one easy to access facility.
Like all big and heavy machinery, aircraft has a definite lifecycle. If you are buying new (or building from a kit!) you’ll be paying a premium – or so it seems. A new aircraft is factory fresh, and has high residual value. This is good if you decide to sell your aircraft at any point. However if you’re buying used, you should figure out where the aircraft is in its lifecycle. Some sellers offload aircraft that will cost them thousands in engine rebuilds or fuselage refits. Before buying, you should always determine what you require an aircraft for, and what stage of its lifecycle will best suit you or your business’ needs.
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